Chinese solar manufacturer Trina Solar has signed a supply agreement with the Citicore Renewable Energy Corporation (CREC) to supply 700MW of PV modules to the company.
CREC, a subsidiary of Philippines-headquartered firm Citicore, will acquire Trina’s Vertex DE21 modules, a series of 670W mono-facial modules. The company started commercial production at a new Chinese facility last week, and the deal is Trina’s latest move as it looks to expand its global footprint.
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“The procurement of PV panels from Trina Solar is part of our efforts to secure high-quality and efficient technology for our projects,” said CREC President and CEO Oliver Tan. “This will help us move towards our goal of 1GW per year of renewable energy capacity as per our commitment to the Filipino people.”
At present, CREC has 284MW of solar capacity installed at operations across the Philippines, and plans to add 1GW of new capacity by the end of 2024. The company aims to add 5GW of new capacity by the end of 2028, and while it has not announced how the Trina modules will be deployed within this plan, the company’s commitment to installing new solar capacity in the Philippines is notable.
The Philippines plans to add 17.8GW of new solar capacity by the end of the decade, a considerable increase on the 1.7GW of all renewable capacity currently in operation in the country, and deals such as this will help achieve this target. The government plans to invest US$10 billion into its solar sector by 2026, a significant investment that puts the Philippines ahead of its Southeast Asian neighbours with regard to investment in new solar projects.
The deal is also the second agreement signed between Trina and CREC in the country, following the deployment of Trina’s panels at CREC’s 125MW Lumbagan solar plant, and 72MW Luntal solar plant, earlier this year.
“We are pleased with this opportunity to work together again and it is testament to CREC’s trust in us and our smart energy solutions,” said Trina Solar Asia Pacific president Todd Li. “Through the successful implementation of this agreement, we look forward to strengthening our relationship with Citicore and continuing to work closely together to help the Philippines transition to renewable energy.”